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Tuesday, July 31, 2018

Nasdaq Fund Network #2018 - 2
Nasdaq to Change Nasdaq Fund Network Listing Fees, Effective October 1, 2018

Market Impacted:

Products Impacted:

  • All NFN issuer firms, including mutual fund families and trust sponsors

Contact Information:

What you need to know:

    On Monday, October 1, 2018, Nasdaq will change the rate for NFN instruments to $700 annually per instrument. The rate increase reflects substantial upgrades and added features to the service that significantly increase its value proposition. The last related rate increase for the service was in 2016.

    For existing instruments on the NFN system, as of January 1, 2019, firms will see the new annual rate reflected on the 2019 annual invoice to be sent to issuers and fund administrators on or about Tuesday, January 4, 2019.

    The new fee will not be retroactive to those listed and billed prior to October 1, 2018.

What is changing?

Nasdaq is increasing the annual listing fee to $700 per instrument for Nasdaq Fund Network.

Why is Nasdaq increasing the listing fee?

The increase reflects substantial upgrades (including various APIs) and added features to the service that significantly increase its value to issuers. The service provides a much-expanded service to a much larger segment of the investing public. These following features and upgrades have come online since the current rate program was designed:

  • Introduced an API for NFN daily list
  • Introduced an API for pricing and performance reporting data
  • Added 20 + new data fields for categorization of fund strategy
  • Added 16 new data fields for expense reporting
  • Added the ability to link fund classes across strategy
  • Added the ability to maintain holdings level data with a % allocation
  • Enabled the support of multiple new instruments and asset classes, including:
    • Interval funds
    • Business development company
    • Collective investment trust
    • Hedge funds
    • Separately managed account
    • Unified managed account
    • Separate accounts
    • Demand deposit accounts

How will this fee change be implemented?

New Instruments:
New instrument with an effective date on or after October 1, 2018 but before January 1, 2019 will have pro-rated increases. Instruments added on or after October 1, 2018 will be billed as follows:

Effective Month Fee per instrument
October $175 per instrument
November $116.66 per instrument
December $58.33 per instrument

Instruments added on or after January 1, 2019, are also subject to the new $700 fee.

Existing Instruments:
For existing instruments on the NFN system as of January 1, 2019, firms will see the new annual fee rate reflected on the 2019 annual invoice to be sent to issuers and fund administrators on or about January 7, 2019.

Is Nasdaq modifying any other NFN fees?

No. NFN fees for market data distributors and pricing agent firms will remain the same for 2019.

Where can I find additional information?

Contact NFN Operations at +1 301 978 5307 (Option #6).

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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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